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The solicitor general says the Second Circuit’s landmark Newman ruling, which overturned the insider trading convictions of two hedge fund managers, overstepped a 1983 Supreme Court decision, Dirks v. SEC. (Credit: Ted Eytan)

BREAKING: DOJ Appeals Newman Ruling To High Court

The U.S. Department of Justice on Thursday asked the U.S. Supreme Court to overturn the Second Circuit’s landmark Newman decision, arguing that the appellate court went too far when it ruled that prosecutors must show alleged tippers received a pecuniary or similarly valuable benefit in order to prove liability for insider trading.

  • No Expert Fees Under FLSA, 2nd Circ. Rules

    Winning plaintiffs can’t be reimbursed for expert fees under the Fair Labor Standards Act, the Second Circuit ruled Wednesday, siding with a New York contracting business in a long-running wage-and-hour dispute.

  • BREAKING: Microsoft's $14.5M Win In Motorola FRAND Case Upheld By 9th Circ.

    The Ninth Circuit on Thursday affirmed a jury's decision awarding Microsoft Corp. $14.5 million after finding Motorola Inc. breached its obligation to license its standard-essential patents on fair terms, and ruled that a judge's landmark decision establishing the proper licensing rate for the patents was correct.

  • BREAKING: Samsung Wins AIA Stay Bid, But Apple Trial To Go Ahead

    The Federal Circuit decided Thursday that Smartflash LLC's patent infringement trial against Samsung Electronics Co. Ltd., set to begin next month, must be stayed while the Patent Trial and Appeal Board reviews the patents, but that a damages retrial against Apple in a related case can go ahead.

  • Brady Must Face Deflategate Charges In NY, Minn. Judge Says

    A Minnesota federal judge on Thursday rejected the National Football Players Association's attempt to have the so-called Deflategate controversy battled out in a Minnesota court — a court that's been notoriously tough on the NFL in the past — saying that since the league filed an action in New York first, that is where the case must be heard.

  • Ex-Wilson Sonsini Employee Gets 2 Years For Insider Trading

    A New York federal judge sentenced a former Wilson Sonsini Goodrich & Rosati PC information technology employee to two years in prison Wednesday for trading on inside information about the firm’s clients, calling it a “crime of temptation.”

  • Brady, NFLPA Take 'Deflategate' Suspension To Court

    The National Football League Players Association filed suit Wednesday in Minnesota federal court on behalf of New England Patriots quarterback Tom Brady, asking the court to overturn the four-game suspension the NFL imposed on Brady for the so-called Deflategate scandal.